Despite falling costs, solar and wind power do not generate sufficient profits for private companies to spearhead the green transition. Instead of acting as behind-the-scenes market facilitators, policymakers must take direct responsibility for producing and distributing renewable energy.
NEW DELHI – The international community has long recognized the urgent need to reduce dependence on fossil fuels and shift to renewable energy, and in recent years many governments have pledged to reach net-zero greenhouse-gas emissions, albeit over extremely long timeframes. But they will never get there so long as they treat electricity, which is central to the clean-energy transition, like any other market good.
NEW DELHI – The international community has long recognized the urgent need to reduce dependence on fossil fuels and shift to renewable energy, and in recent years many governments have pledged to reach net-zero greenhouse-gas emissions, albeit over extremely long timeframes. But they will never get there so long as they treat electricity, which is central to the clean-energy transition, like any other market good.